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google, how are we going to create the next big thing -- but make sure that production is here. so it's great that we have an apple that's creating ipods, ipads and designing them and creating the software, but it would be nice if we're also making the ipads and the ipods here in the united states, because that's some more jobs that people can work at. and there are going to be a series of decisions that we've got to make. number one, are we investing in research and development in order to emphasize technology? and a lot of that has to come from government. that's how the internet got formed. that's how gps got formed. companies on their own can't always finance the basic research because they can't be assured that they're going to get a return on it. number two, we've got to drastically improve how we train our workforce and our kids around math and science and technology. number three, we've got to have a top-notch infrastructure to support advanced manufacturing, and we've got to look at sectors where we know this is going to be the future. something like clean energy, for exa
at the federal reserve. we want to help get rid of the perception of too big to fail. lehman brothers is the only example of a major financial institution in a developed country that was allowed to fail. the evidence clearly puts this to rest the notion that we did not deal nottoo big to fail. there are a couple of areas where i see the attack coming. my republican colleagues, on like climate change and health care, don't want to take this one had on. it is still too popular. coming to the defense of unrestricted derivative trading is not a popular cause. they are coming at it sideways. they want to use the deficit as an excuse for under-funding the sec and cftc. they have a small percentage of what we're wasting trying to build infrastructure in afghanistan. the notion that the $90 million more that we need for the cftc because of the deficit is nonsense. they want to turn the sec into a profit center. you have a catch-22. first denied the sec and the cftc adequate funding. they in turn will not be able to deal with the rulemaking requirements that they have. because they have not been able to m
if a big bank goes under. second, it said to wall street firms, you can't take the same kind of reckless risks that led to the crisis. and third, it put in place the stronger -- the strongest consumer protections in history. now, to make sure that these protections worked - so ordinary people were dealt with fairly, so they could make informed decisions about their finances - we didn't just change the law. we changed the way the government did business. for years, the job of protecting consumers was divided up in a lot of different agencies. so if you had a problem with a mortgage lender, you called one place. if you had a problem with a credit card company, you called somebody else. it meant there were a lot of people who were responsible, but that meant nobody was responsible. and we changed that. we cut the bureaucracy and put one consumer watchdog in charge, with just one job -- looking out for regular people in the financial system. now, this is an idea that i got from elizabeth warren, who i first met years ago. back then -- this is long before the financial crisis -- elizabeth wa
and pay for it? that is a big part of our debt problem right now. >> reclaiming my time, i will answer the gentleman's question. i have two sons, the 22-year-old is in the top 10 academically of the students in this country and wants to be a doctor. virtually every doctor that he knows is begging him not to become a doctor. so the outlook from a 22-year- old who has studied hard his whole life but may want to be a doctor, every doctor in this country, how did they get it right that the health care bill passed is anti-competitive and a government takeover that will cost 800,000 jobs? how can i justify that? well, it is the law. on the other side, i've got a down syndrome son who is in the bottom 2% academically. he will need substantial help. alex is going to be competing against all of us in health care, against people who have every ability to take care of themselves, who should not look for government alliance or government programs, and he is going to be in what phil gramm called that wagon, a little red wagon of people who cannot take care of themselves by disability, perhaps physi
and echoing my call to end subsidies for big oil. it's a call that received a bipartisan vote here in the sete, a bipartisan majority vote here in the senate, but, of course, did not pass. did not as if because of our colleaguescolleagues' insistenca filister for a supermajority amount. but it's time that our friends on the other side of the aisle put the interests of taxpayers ahead of big oil and allow these wasteful subsidies to finally end. as the president said, we have strategies to reduce the deficit. like my legislation to cut oil subsidies that are already introduced and ready to go. and all we have to do is pass it. and a vote to allow that to happen is a simple choice for everyone in this chamber. are you on the side of working-class families and seniors? or are you on the side of big oil? now, there are lots of ways to cut the deficit, but saving taxpayer subsidies for big oil while ending medicare as wenow it and cutting student loans is not, in my mind, a solution. it makes no sense, mr. president, to give a taxpayer h. funde of it funded o the big five oil companies earning huge
members. one big gap with the military lending act is it does not apply to automobile financing, and one thing many young enlisted do when they get their paycheck is to try to purchase an automobile. i think also the protections should be expanded. veterans are not covered by the military spending act. older americans are not covered, and talking about checks and balances, we have businesses putting mandatory unilateral arbitration clauses in the contract, which allow consumers no redress if they are harmed by these high cost, unfair product set are leading them of their bank accounts, robbing them of vehicles, and taking their homes away, leaving them and their families without a place to live secure a good -- a place to live. >> in your testimony, you find a trade-off the sometimes arises between consumer protection and a profitability -- and bank profitability. can you talk about the trade-off and what influence it should have? >> of course. there is a balance of regulatory agencies are trying to strike between bank safety and soundness and consumer protection during debate safety and
to do it to us. thank you very much. >> the sign behind me, dream big, is as appropriate one that we can think of as we begin to discuss these great optimists. they truly are, the great optimists in america. what we will talk about today and what tom has talked about, what our survey has shown, is that there is a lot of uncertainty out there. a lot of people believe that the american economy is on the wrong track, that the policies they come out of washington and other places that are the wrong way to go. the one thing you hear from the people up here today and the one thing we heard as we did a listening session, multiple listening sessions all over the country, and in every state, was this -- when you talk to small businesses and the people who are living the american dream, they are optimistic about their future and about their company. it is a pleasure for me to moderate this panel and talk a little bit about what we found as we work through uphold that is the second quarterly poll but we have done here at the chamber -- that we have done here at the chamber. how will introduce the t
is something that hasn't bottomed out as quickly as we expected. and so that's continued to be a big drag on the economy. we've had to revamp our housing program several times to try to help people stay in their homes and try to start lifting home values up. but of all the things we've done, that's probably been the area that's been most stubborn to us trying to solve the problem. >> mr. president, 27% of our questions are in the jobs category, as you can see from the screen over here. our next question has to do about jobs and technology. it comes from david, "tech and knowledge industries are thriving, yet jobs discussion always centers on manufacturing. why not be realistic about jobs?" >> well, it's not an either/or question -- it's a both/and question. we have to be successful at the cutting-edge industries of the future like twitter. but we also have always been a country that makes stuff. and manufacturing jobs end up having both higher wages typically, and they also have bigger multiplier effects. so one manufacturing job can support a range of other jobs -- suppliers and the re
senate procedure, the regular order but have attempted to solve this big problem in secret, behind closed doors with just a few people. i believe that is contrary to the historical understanding of the role of congress and i'm not happy about it, i oppose it a i object to it and i expect an appropriate amount of time to consider whatever plan comes ded women like them guard these hallowed halls. mr. president, some of those dedicated police officers stood guard saturday and sunday as we worked to reach an agreement to avert a default on our national debt. leaders from both parties were here throughout the weekend. differences still separate our two sides but work toward an agreement continues. this afternoon, i will put on the floor a proposal to -- that i hope will break that impasse. this legislation would put to rest the specter of default. it would cut $2.7 trillion from the deficit over the next decade. it would not raise any new revenue or make any cuts to medicare, medicaid or social security. all the cuts included in this package have previously been supported by republicans. the
procedure, the regular order but have attempted to solve this big problem in secret, behind closed doors with just a few people. i believe that is contrary to the historical understanding of the role of congress and i'm not happy about it, i oppose it and i object to it and i expect an appropriate amount of time to consider whatever plan comes >> president obama called for a feeling congress that would raise the national debt ceiling. the president supports the plan by senate majority leader harry reid which includes $2.70 trillion in savings, no tax increases, and no cuts to social security or medicare. the president spoke from the east room of >> the government had a surplus but the money was spent on the two wars and expensive prescription drug program. as a result, the deficit was on track to top $1 trillion, the year i took office. to make matters worse, the recession meant that there was less money coming in and it required us to spend even more. on text cuts for middle-class families to spur the economy and unemployment insurance, and aid to states that we could prevent more teach
are making it more difficult to get there. so i'm a big fan of the navy with one important exception that is on that saturday in november when we play the army-navy football game. >> having gone from the naval academy into the marine corp., i don't watch that game very often. so -- but it does seem to me that we are at tend of another inevitable historical cycle here when we have extended ground combat deployments that expand the size of the active duty army into the marine corp. at the expense very often of what i would call national strategic assets like our operational navy. i think i'm hearing from you that the same thing i heard from secretary panetta that the 313 ship goal for the navy is a reasonable goal. would that be correct? >> well, my ingaugements over the past three months suggest to me that it is. but again, i think we had a conversation a bit earlier about how do we keep strategy at pace with resource decisions. so that comprehensive strategy review that we're doing should it seems to me re-enforce that or cause it to think differently about it. one of the things i th
is interested in turning the sanaa big we are not able to confirm that one way or another but obviously whatever he does lose large in the political calculations of everyone on the ground in yemen right now. we strongly believe that a transition is necessary, that an orderly peaceful transition is the only way to begin to lead yemen out of the crisis that it has been in for the last few months. we are strongly supportive as i said of the gcc initiative. we believe this is one way within the framework of the existing yemeni constitution that not only leads to elections, but also allows the opposition, the public, the protesters, also have the police in yemen's future. so we continue to strongly urge president saleh to sign and implement the agreement. in terms of the governance of yemen, the acting president under the terms of constitution is the vice president, hadi. he is a southerner who has been rather retiring in the past. he appears to be willing to sort of step up to the plate and begin to make the hard decisions that a president, even in income or acted president of yemen must be. he has
to need your help, folks. there are big issues facing our country right now. i don't have to tell you. we need long-term solutions for our debt and our deficits. we need to invest in education and infrastructure and we need to get our country on track with sustainable energy solutions. just to name is few. we've got a lot of work to do and i know all of you have good ideas. democrats are the party of big ideas and new technology and we want your input. please feel free to give it to us. i know i'm going to have to really push you hard to offer your opinion on the issues that matter to you so, you know, just try to give us a little help. republicans want to take us backwards on the other hand. they think cutting taxes and deregulating everything solves all of our problems. it doesn't matter what the issue is, their solution is cut taxes and deregulate. now, that might make for a good sound bite but it's not good for real people. so we're going to hold them accountable with their wrong-headed ideas. we're going to hold them accountable from today until election day. we're going to reelect p
here from our republican leagues, the big difference being, he doesn' want to say every five months, let's puthe country into economic crisis and all the uncertainty between now and five months from now that that will create. with that, i yield one minute to mr. ryan a terrific member of the budget committee from ohio. mr. ryan: i thank the gentleman. one of the issues we want on the table here is revenue. the top 400 wealthiest people in the united states of america pay 17% tax rate. my constituents in youngstown and akron, ohio, pay a heck of a lot more than 17%. we hear our friends on the other side of the aisle, how all these changes need to occur, how all these problems need to be solved, but heaven forbid, mr. speaker, we ask the 400 wealthiest families in the united states of america to maybe be a little bit patriotic and help us ou and you'll say, well these are the job creators. these taxes won't go into place for another year or two. we've got to get through this downturn. but we need to send a message to the bond market that we are serious. and for us to be this irrespons
, adding jobs, and creating new opportunities. we are not seeing that, in part, because of the big overhang of foreclosed homes, which are weighing on prices. it is a vicious circle. people do not want to buy because prices are falling and prices are falling because people do not want to buy. there are a number of things we are doing. we are keeping mortgage rates globe. -- keeping mortgage rates low. this works to try to modify mortgages. i think it is worth looking at that area. one area where more work needs to be done is housing finance. we have not begun to clarify for the market out housing finance will be conducted in the future. another area i suggest he might think about is the overhang of distressed houses. for example, fanny, freddie, and the bank's own about half a million homes right now, which are basically sitting there on the market and which are pressing down prices and reducing appraisals and making the housing market much weaker than it otherwise would be. that is another area to look at. i agree with you that the housing market is, in some sense, the epicenter of the pro
was in the embassy. as i walked down the hall, all the pictures of all the former presidents with a very large, big smile with who? mubarak. they're all in. they just put out a new book, the 'em was si put out a -- embassy put out a new book. president obama's on the cover, and it shows all the previous people, republican and democrat, who have been with this administration. so a lot of the fault lies here, and we'll see what the spine is with this congress when these issues are offered because i think there's a lot of blame right here in river city by republicans and democrats. the coptic christians and, frankly, i don't want to see the coptic christians leave egypt. egypt and the middle east without christians will not be the middle east. and for too long people up here and in the previous administration have been reluctant to advocate for people who are being persecuted because they're christians whether it be in afghanistan, pakistan or egypt. and the two questions that i have, how many connections have there been -- convictions have there been over the last several years, do you have any -- an
mission in afghanistan. if confirmed, the general will have big boots to fill and succeeding general petraeus commander of the 49 member international security assistance force coalition and u.s. forces afghanistan. like general petraeus, general allen brings an in-depth understanding of the complexities of the counterinsurgency effort based on his own experience as the commander in anbar province in iraq. working with the sunni awakening the marines and anbar succeeded in getting local sunni tribal leaders to reject the insurgency and instead support the iraqi government and its the deputy commander at u.s. central command general ellen has developed a regional perspective on issues affecting the region in afghanistan. he will be the first marine to serve as the top commander in afghanistan. the number one priority will be implementing president obama's decision last week to accelerate the transition of security responsibility to afghan forces and start bringing the u.s. surged forces home. as all land by the president, 10,000 u.s. troops will be withdrawn by the end of this year an
for big corporations for the purposes of deficit- reduction. it is very troubling to see a provision that would enshrine a preference for cutting education and medicare. >> it is unbelievable. they issued a statement saying that this plan is tantamount to a form of class warfare. he says it could well produce the greatest increase in poverty and hardship produced by any law and history. >> there are people behind these cuts. the cuts seemed so disproportionately aimed at those in least afford it. what is the impact of the bay near plan? what does that mean? well at this mean? >> what is troubling about this plan is that it makes it appear like everything will be painless when in reality it will be incredibly painful. you are going to force these kinds of changes. we know that these are the kind of changes that they are anticipating. we have a budget that passed the house. the cbo has looked at it. seniors would be forced out of the current medicare system. they'll be forced into the private insurance market. they get hit with a double brandy. costs are higher. they would have to eat
stop making social security requirements, there would be a big crisis. at least, in that case, it would not actually lead to a default. it could adversely affect our future ability to borrow. host: republican line from pennsylvania. good morning. caller: good morning. my question is how much are we paying for people who did not really pay in to social security and did not work like these kids who are hooked on drugs, alcohol, stuff like that and are collecting s.f.i. how much money? host: i think that is out of the area of the expertise of our guest. to ocean city, new jersey. you are on the air. caller: hello. good morning, america. i kind of do not agree with the republican agenda. i just wanted to make that statement. i really feel like they want to take away benefits to people on social security, yet they give subsidies to billionaire oil companies. to me, that does not make any sense. social security is, sort of, an asset. as far as the constitution, one crazy question. we are talking about impeachment of the president. is there any way that the general public can remove members of
. this problem is too big to try to solve it with just part of the federal fiscal picture. it's going to take all parts to solve this problem. mr. president, the group of six, aim plowed to say, came up -- i'm proud to say, came up with a plan that stablizes this debt and begins to bring it down and avoiding this skyrocketing debt that we are otherwise going to experience. mr. president, this amendment, this legislation before us would stop it in its tracks. i think that would be a profound mistake. i hope my colleagues reject this ill-considered plan. ask that the quorum call be dispensed with. the presiding officer: without objection. mr. sessions: mr. president, one of the things that from us the -- one of the things that frustrates the american people about washington is how hard it is to get straightforward answers. we in the congress have that same difficulty. it is hard to know sometimes what numbers and statements and plans really mean and what they will cost. politicians offer a budget proposal, and they say it cuts taxes even though taxes go up. they even come up with new names to disgu
Search Results 0 to 19 of about 20